Consumer Borrowing in U.S. Increased More Than Forecast in June
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American consumer borrowing rose more than forecast in June on bigger credit-card balances and a pickup in lending for automobiles.
The $20.7 billion increase in total credit followed a revised $16.5 billion gain in the prior month, Federal Reserve figures showed Friday. The advance pushed borrowing up at a 7 percent rate in the second quarter, the fastest in a year.